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Matching demand and supply in a weightless economy : market-driven creativity with and without IPRs

Quah, Danny (2002) Matching demand and supply in a weightless economy : market-driven creativity with and without IPRs. CEP discussion paper; CEPDP0534, 534. Centre for Economic Performance, London School of Economics and Political Science, London, UK.

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Identification Number: 534

Abstract

Many cultural products have the same nonrival nature as scientific knowledge. They therefore face identical difficulties in creation and dissemination. One traditional view says market failure is endemic: societies tolerate monopolistic inefficiency in intellectual property (IP) protection to incentivize the creation and distribution of intellectual assets. This paper examines that tradeoff in dynamic, representative agent general equilibrium, and characterizes socially efficient creativity. Markets for intellectual assets protected by IP rights can produce too much or too little innovation.

Item Type: Monograph (Discussion Paper)
Official URL: http://cep.lse.ac.uk
Additional Information: © 2002 Danny Quah
Subjects: H Social Sciences > HB Economic Theory
JEL classification: D - Microeconomics > D9 - Intertemporal Choice and Growth > D90 - General
O - Economic Development, Technological Change, and Growth > O1 - Economic Development > O14 - Industrialization; Manufacturing and Service Industries; Choice of Technology
O - Economic Development, Technological Change, and Growth > O3 - Technological Change; Research and Development > O30 - General
Sets: Collections > Economists Online
Research centres and groups > Centre for Economic Performance (CEP)
Departments > Economics
Series: Working Papers > CEP Discussion Papers
Date Deposited: 27 Apr 2007
Last Modified: 14 Nov 2012 10:19
URI: http://eprints.lse.ac.uk/id/eprint/2083

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